GST will boost the confidence of potential homebuyers, says Nandan Piramal, Peninsula Land

“We see the introduction of GST as a positive move by the government for the enhancement of the real estate sector. Initially, the markets will experience some short-term confusion, in terms of input tax credit, but in the long-term this reform will be beneficial to the sector. It is a moment of pride to see India take a step in this direction.

From an industry perspective, Peninsula Land regards this as a good move as it brings transparency within the system and levels out all unorganised players. This, in turn, will boost the confidence of potential homebuyers, giving them the benefits of one tax as opposed to multiple taxes.”